Prosperityme
- Assets
- $6.9m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 33
- Location
- Portland, ME
- Founding
- 11/2009
- Data as of
- 12/2023
- EIN
- 80-0362127
Organization Overview
Prosperityme is located in Portland, ME. The organization was established in 2009. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2023, Prosperityme employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prosperityme is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Prosperityme generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 40.3% each year . All expenses for the organization totaled $4.0m during the year ending 12/2023. While expenses have increased by 37.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROSPERITYME EMPOWERS, THROUGH EDUCATION AND COUNSELING, MEMBERS OF REFUGEE AND IMMIGRANT COMMUNITIES TO INVEST IN THEMSELVES TO BUILD FINANCIAL STABILITY, CAREERS, BUSINESSES AND WEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOUSING PROGRAM WORKS WITH IMMIGRANT INDIVIDUALS AND FAMILIES AT RISK OF HOMELESSNESS TO CREATE A LONG-TERM PLAN FOR HOUSING AND FINANCIAL STABILITY. THE GOAL IS TO REDUCE THE LENGTH OF TIME FAMILIES SPEND IN HOMELESSNESS OR PRECARIOUS HOUSING SITUATIONS, SUCCESSFULLY LEASE FAMILIES IN PERMANENT HOUSING, AND LIMIT RETURNS TO HOMELESSNESS WITHIN THE FIRST YEAR OF BEING HOUSED. PROSPERITYME PROVIDED HOUSING SERVICES TO 1,272 UNDUPLICATED HOUSEHOLDS AND HOUSED 139 INDIVIDUALS AND FAMILIES IN 2023.
THE SCHOLARSHIP FOR ASYLUM SEEKER PROGRAM: THE SCHOLARSHIP PROGRAM IS AN EDUCATION RESOURCE THAT HELPS ASYLUM-SEEKERS OBTAIN AN ASSOCIATE DEGREE AT A COMMUNITY COLLEGE FOR TWO YEARS OR VOCATION CERTIFICATE. AWARDEES ARE MATCHED WITH PROFESSIONAL MENTORS TO HELP THEM BUILD A NETWORK AND FIND A JOB. PROSPERITYME HAS AWARDED 50 SCHOLARSHIPS TO DATE AND PROVIDED TUITION TO 12 STUDENTS IN 2023. THE HOME ENERGY ASSISTANCE PROGRAM: THE HOME ENERGY ASSISTANCE PROGRAM (HEAP) IS A PROGRAM THAT PROVIDES A FIXED AMOUNT OF FUNDING TO MAINE EACH YEAR FROM THE FEDERAL GOVERNMENT. THE HOME ENERGY ASSISTANCE PROGRAM (HEAP) HELPS QUALIFIED HOMEOWNERS AND RENTERS PAY FOR HEATING COSTS. BENEFITS INCLUDE HELP PAYING FOR FUEL AND EMERGENCY FUEL DELIVERY. YOU CAN ALSO QUALIFY FOR ENERGY-RELATED REPAIRS IF YOU ARE ELIGIBLE FOR HEAP. THIS WAS NEW PROGRAM STAFF WERE IN TRAINING AND THE SERVICES STARTED AT THE END OF DECEMBER AND ONLY 4 FAMILIES WERE SERVED.
FINANCIAL LITERACY: PROSPERITYME PROVIDED COURSES IN BASIC MONEY MANAGEMENT, WOMENS ECONOMIC EMPOWERMENT, FINANCIAL COACHING AND COUNSELING SERVICES. IN 2023 PROSPERITYME SERVED 223 STUDENTS THROUGH FINANCIAL EDUCATION CLASSES, HOW TO BE A SUCCESSFUL TENANT AND 3 CLIENTS THROUGH INDIVIDUAL SESSIONS.
THE PEER WORKFORCE NAVIGATOR PROJECT IS A COALITION OF COMMUNITY-BASED ORGANIZATIONS THAT HELP PEOPLE MAKE CONNECTIONS WITH EDUCATION AND TRAINING, APPRENTICESHIPS, UNEMPLOYMENT INSURANCE, HEALTHCARE, PUBLIC BENEFITS, AND THINGS THEY NEED TO GET AND KEEP A GOOD JOB. PROSPERITYME SERVED OVER 1,034 INDIVIDUALS WITH THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claude K Rwaganje Executive Di | Officer | 40 | $140,520 |
Helen Andreoli Board Member | Trustee | 1 | $0 |
Mary Axelsen Board Member | Trustee | 1 | $0 |
Eileen Fongemie Treasurer | OfficerTrustee | 2 | $0 |
Martha Fox Board Member | Trustee | 1 | $0 |
Christen Graham Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $115,106 |
| Related organizations | $0 |
| Government grants | $3,601,260 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,597,056 |
| Noncash contributions included in lines 1a–1f | $11,801 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,313,422 |
| Total Program Service Revenue | $23,660 |
| Investment income | $119,088 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9 |
| Net Income from Fundraising Events | -$28,955 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,434,958 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,031 |
| Grants and other assistance to domestic individuals. | $2,608,944 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $151,936 |
| Compensation of current officers, directors, key employees. | $15,194 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $849,741 |
| Pension plan accruals and contributions | $20,051 |
| Other employee benefits | $28,114 |
| Payroll taxes | $75,220 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $59,552 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $15,125 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,684 |
| Advertising and promotion | $1,665 |
| Office expenses | $8,302 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $115,937 |
| Travel | $3,020 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,764 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,498 |
| Insurance | $9,243 |
| All other expenses | $0 |
| Total functional expenses | $4,029,651 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $727,064 |
| Savings and temporary cash investments | $5,731,511 |
| Pledges and grants receivable | $353,451 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,074 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $111,736 |
| Total assets | $6,928,836 |
| Accounts payable and accrued expenses | $2,295,085 |
| Grants payable | $0 |
| Deferred revenue | $660,383 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $124,836 |
| Total liabilities | $3,080,304 |
| Net assets without donor restrictions | $2,557,192 |
| Net assets with donor restrictions | $1,291,340 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,928,836 |